‘I strongly believe in the consolidator model for accounting firms,’ said Sarin. ‘If you look at Tenon, Numerica and Vantis, then you would say they are doing well. The model will be borne out over the next few years.’

Sarin made his comments following his resignation from the CEO’s post at Numerica last month. His departure from the company coincided with the publication of poor financial results for Numerica in the second half of the year.

Sarin is now launching a new private equity company called Hamilton Bradshaw (HB), with James Caan, the man who built up international human capital business Alexander Mann.

Sarin denied that he was forced from the chief executive role, or that he stepped down to help form HB.

He was philosophical about his tenure as chief executive of Numerica: ‘It was a natural progression for me to step down. I took Numerica to a certain stage, and now I hope to do as good a job in the private equity market.’